COIN (NASDAQ:COIN) Price Is on the Verge of Reversal

$COIN (NASDAQ: COIN) Forecast: July 28

The Coinbase Global (NASDAQ: COIN) market is nearing the end of its low dip movement and is on the verge of a correction phase. If the bulls increase their buying activity and all support levels stay unchanged, the share price may recover and shift upward from the present daily support candle of $386.39. Assuming all existing support holds and the bulls push higher, the price breakout may test the previous high at $405.88, which could likely reach the $415.00 supply trend line, suggesting capital inflow into the asset and growing purchasing pressure.

Key Levels:
Resistance Levels: $405.00, $406.00, $407.00
Support Levels: $398.00, $397.00, $396.00

COIN Long-term Trend: Bullish (Daily Chart)

The $COIN market price may experience an upside reversal after a slight dip in its higher time frame. The stock price is above the supply levels. This indicates a bullish trend.
The stock price has remained above the supply trend levels at its recent low.
Persistent bullish pressure over the last few hours drove it to a high value of $410.75.

The share price remains in an uptrend. The market is not significantly impacted by the decline in the price of NASDAQ: COIN to the $386.39 low value above the EMA-50 as the daily chart started today.

On the other hand, this permits a more positive impact on the market value. Further, investors may seize the opportunity now and buy the shares for more gains ahead.

If buyers intervene, the selling pressure on the asset may be easing, which might result in a reversal at the $386.39 current support level.

The NASDAQ stock price may therefore be exposed to a $415.00 upper resistance level in the upcoming days if the $405.88 previous high level is touched, indicating continuous buying pressure in the long run.

COIN Medium-term Trend: Bullish (4H Chart)

Despite the bears’ intervention, the NASDAQ: COIN market has a bullish posture and may experience an upside reversal as the bearish pressure is ending soon in the medium-term outlook.
The market price is currently trading in the bullish market zone, due to the inflows from buy traders.

Today, buyers await a bullish opportunity, and the $COIN price remains on the verge of an upside reversal as the short traders drop the stock price to a $390.64 support level above the EMA-50 on the 4-hourly chart.

Hence, should the bulls switch hands with the sell traders and close over the $405.32 resistance point, extra intraday gains will be recorded for the buy investors.

Notably, the NASDAQ stock price has dropped below the daily stochastic 10% range. It shows that the pair is currently in the market’s oversold area, suggesting the selling pressure is likely to run to an end soon.

As a result, the share price could surge to hit $436.30 resistance value soon in its medium-term outlook.

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